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May 24 (Bloomberg) -- The dollar will probably become a “growth currency” during the next 10 years, shedding its haven status of the past decade, as the U.S. economy outperforms Europe and Japan, according to UBS AG.
“Over the next 10 years it seems likely that the dollar will shift to having a positive relationship with investor sentiment as America’s fundamentals appear more attractive than those of the euro zone, U.K. and Japan,” Mohi-uddin wrote. “The likelihood that the dollar performs strongly rather than weakly when investors are risk-seeking will signify a major change in the currency markets.” The dollar strengthened to $1.2384 as of 11:17 a.m. in London, from $1.2570 on May 21. Economic Outperformance The U.S. economy will expand 3.2 percent this year, according to the median estimate of 77 analyst forecasts compiled by Bloomberg News. That compares with 1.2 percent growth for the U.K., 1.1 percent in the 16-nation euro region and 2.1 percent for Japan, separate surveys show. U.S. equities led gains through the end of April, “until all markets were hit by risk aversion this month,” Mohi-uddin said.
Originally posted by Number23
If you eros are so smart, why do you keep losing to America?